Flamel Technologies has entered into a development and license agreement with Wyeth Pharmaceuticals, a division of Wyeth. The agreement is for the development and licensing of a marketed protein to be delivered using Flamel's Medusa technology. Flamel will receive an upfront payment and potential development fees, milestones and royalty payments, the terms of which are not disclosed.
"We are pleased to announce this license agreement with Wyeth Pharmaceuticals," said Stephen H. Willard, Flamel's chief executive officer. "As with the four previous Medusa relationships that we have entered into this year, this agreement concerns our new uniform polymer which is applicable to a wide variety of proteins and peptides. This new relationship contributes to our goal of building a diverse set of relationships for our Medusa platform, which we expect will continue to grow. We are pleased that Wyeth has chosen to license our Medusa technology and are looking forward to working in the development of this exciting opportunity."
Flamel Technologies, S.A. is a biopharmaceutical company principally engaged in the development of two unique polymer-based delivery technologies for medical applications.